No Top 10 Crypto Stakes More of Its Supply Than Bittensor

At 76.18%, Bittensor’s staking ratio is higher than every cryptocurrency in the top 10 by market cap (per Staking Rewards).

Ethereum sits at 32.38%. Solana, 68.46%. BNB, just 19.02%. Tron, 46.96%. Hyperliquid, 44.8%. None comes close.

That’s three-quarters of all circulating TAO locked into the network, earning rewards, securing subnets, and out of centralized exchanges.

What the ratio means

Staking ratio measures how much of a token’s circulating supply is locked into the network’s proof-of-stake system. A high number signals two things at once: holder conviction (people aren’t dumping), and network security (more skin in the game from validators).

A recent Tao Daily poll proves this high-holding conviction:

The State of Bittensor: What the Community Thinks Right Now

TAO’s 76.18% is also the highest among the top 10 proof-of-stake assets by staking market cap. Sui, the next closest, is at 74.2%. Cardano, 58.25%. Ethereum, 32.38%.

And the devs are committing too

Holders aren’t the only ones showing conviction. Bittensor’s development activity hit an all-time high on May 1, 2026: 5,894 commits in a month and 56 daily unique contributors, aggregated across all 128 subnets.

Development activity is at an all-time high on Bittensor

– Commits/month as of May 1, 2026: 5894
– Daily unique contributors as of May 1, 2026: 56

Both figures are aggregated across all 128 subnets.

Data source: @taostats pic.twitter.com/ie8LaysWbB

— Allan (@allan_quantifi) May 24, 2026

That’s the other half of the story. Three-quarters of TAO supply is locked. A growing developer base is shipping code across the network. Capital is staked, labor is building, and both sides of the network are leaning in.

The rewards keep flowing

That locked supply isn’t sitting idle. Bittensor is paying out $339.96M in annual staking rewards, more than every L1 ranked above it on CMC except Ethereum, Solana, Tron, and Hyperliquid.

Real reward rate (net of inflation) sits at 2.82%, ahead of Solana (1.51%) and Ethereum (1.95%).

The market cap is #32 on CoinMarketCap. The staking economy is sized like a top-10 L1.

The yield-to-cap math

Per dollar of market cap, TAO is issuing roughly 11% in annualized rewards. ETH issues at ~0.9%. SOL at ~4.2%. BNB at ~0.2%. No major L1 is close.

It’s the kind of stat that gets buried under price action (TAO is down 2% on the 7d) but it’s why Bittensor ranks #9 on Staking Rewards’ market cap leaderboard despite trading at #32 on CMC.

The supply is locked, the rewards are flowing, and the participation rate is higher than any peer in the staking top 10.

Data: Staking Rewards, CoinMarketCap